Shares of CE Info Systems Ltd., the parent company of MapmyIndia, came under sharp selling pressure on Wednesday, extending losses for a second straight trading session. The stock declined more than 7% during the day's trade as investors reacted to a fresh downgrade from brokerage JM Financial.
The stock is currently trading at Rs 1,060.5 apiece on NSE, shedding 6.95% from its previous close at Rs 1,139.7.
Trading activity also picked up significantly, with volumes running at nearly twice the stock's 20-day average, according to Bloomberg data, indicating heightened investor participation amid the selloff.
JM Financial Downgrades Stock
JM Financial downgraded CE Info Systems to 'Reduce' from 'Add' and lowered its target price to Rs 1,040. The revised target suggests a downside of about 8.7% from the stock's previous closing price.
The brokerage's downgrade weighed on investor sentiment, triggering sharp selling in the counter.
Stock Under Pressure
The latest decline adds to the stock's weak recent performance. CE Info Systems has slipped around 9% over the past five trading sessions, lost 38.83% since the beginning of 2026, and lost nearly 40% of its value over the past year, making it one of the weaker performers in its segment during the period.
However, over the past month, the stock gained around 12.8%, but the recent fall again wiped off the gain to certain extent.
Despite the recent correction, analyst views remain mixed. According to Bloomberg data, five of the eight analysts covering the stock continue to recommend a 'Buy', while one analyst has a 'Hold' rating and two analysts recommend 'Sell'.
The Bloomberg consensus target price stands at Rs 1,280.71, implying a potential upside of about 21% from the last regular traded price.
Investors will now watch whether the latest correction creates a buying opportunity or if further earnings and business updates prompt additional revisions to analyst estimates and target prices.
ALSO READ: Market Watch: Top 10 Stocks That Soared And Slumped Today - Check List
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.